Plant-Based Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025
The plant-based Food market is anticipated to reach a market valuation
of US$ 38.4 billion by 2025 expanding at a CAGR of 8.94% in the course of the
forecast period (2019-2025). The expected growth of plant-based food globally
can be attributed to the impact of non-vegetarian and dairy food on environment
and human health. One of the major contributors to global warming is the
livestock industry, and, relative to plant-based agriculture, meat production
has a much higher environmental impact in relation to freshwater use, amount of
land required, and waste products generated. Promoting increased consumption of
plant-based foods is a recommended strategy to reduce human impact on the
environment and is also now recognized as a potential strategy to reduce the
high rates of some chronic diseases such as cardiovascular disease and certain
cancers. Roughly 387 Mn people are living with diabetes, and according to the
International Diabetes Federation, that number is expected to soar to nearly
600 Mn by 2035. Studies claim a whole-food, plant-based diet can prevent
and even reverse a litany of food and lifestyle-borne illnesses, including
heart disease and type 2 diabetes. Bakery items and snacks also contribute to
these health issues. Thus, it is important for this section to be moved to
plant-based food.
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Consumers across the globe have gained interest in plant-based foods,
including plant-based protein. The increasing instances of obesity and related
diseases are making consumers more health-conscious and they are demanding food
and beverage products that are natural and low in fat and calorie
content. Owing to this reason, the plant-based food sector is booming.
With more people shifting away from meat toward a cleaner, plant-based protein
alternative, many new start-ups offering innovative products have jumped in to
meet growing demand. In fact, the plant-based food sector is currently valued
at US$ 21.18 billion globally. Consumer preference away from animal products is
largely due to rising concerns about animal welfare, personal health, and
importantly, sustainability. According to recent statistics by manufacturer
Nelson, demand for plant-based product development has spiked by close to 140%.
It has been estimated that global plant-based food market will reach US$ 25.0
billion by 2020. 7% of the U.K. population identifies as vegan, while a 2016
study found that 4.3% of the German population between 18 and 79 identified as
vegetarian. In comparison, only 3.3% of people in the U.S. considered
themselves vegan or vegetarian.
Animal agriculture dominates our world’s food system even though it is
highly inefficient as an enormous amount of resources are needed to produce the
meat and animal products consumed across the world. Around 26% of land
worldwide is dedicated to grazing livestock, while 33% of the land is allocated
for growing feed. In addition, around 70% of the world’s freshwater supplies
are used for agriculture, about one-third of which is for livestock feed. Not
to mention, the United Nations Food and Agriculture Organization (FAO)
estimates that livestock production is responsible for 14.5% of global
greenhouse gas emissions, while other organizations like the World watch
Institute have estimated it could be as much as 51%. Climate change is
recognized as a significant public health issue that will impact on food
security. One of the major contributors to global warming is the livestock
industry, and, relative to plant-based agriculture, meat production has a much
higher environmental impact in relation to freshwater use, amount of land
required, and waste products generated. Promoting increased consumption of
plant-based foods is a recommended strategy to reduce human impact on the
environment and is also now recognized as a potential strategy to reduce the
high rates of some chronic diseases such as cardiovascular disease and certain
cancers.
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By 2050, global food systems will need to meet the dietary demands of
more than 10 billion people who on average will be wealthier than people today
and will aspire to the type of food choices currently available only in
high?income countries. This food will have to be produced sustainably in ways
that contribute to reducing climate change, and that address other
environmental challenges. At the same time, human health is influenced more by
food than by any other single factor, and facilitating healthy diets is
critical both for individual well?being and containing the costs of treating
illnesses. It is widely recognized that the current trajectory of the food
system will not allow us to meet these goals. Thus, the potential way out of
this situation is the adoption of plant-based food.
The global meat and dairy sector are currently going through an
unprecedented level of competition and disruption, driven by the growth of
viable plant-based alternatives across many categories. The meat substitutes
market is expected to reach more than US$7.1 billion globally by 2025. While
overall food sales declined by 0.2%, sales of plant-based foods increased by
8.94%. Fake meat has evolved into a popular trend on the menu card at large.
Plant-based meat is anything that mimics traditional meat but is made entirely
using plant ingredients. It is mainly consumed by vegetarians and vegans.
Despite the rising awareness of inefficiencies associated with livestock
production and other harmful effects of animal agriculture on the industrial
scale, the world is likely to consume more meat per capita this year than ever
before. This is a major factor boosting the plant-based meat market globally.
The growing concerns regarding the environmental impact and sustainability of
the meat industry are the major growth driver of the global plant-based meat
market. The growing concerns regarding the sustainability of livestock
production, meat availability, and change in food preferences have led to many
people opting for meat substitutes. This has immensely benefitted the
plant-based meat market globally.
Some of the major companies profiled in the global plant-based food
market include Tofurky, Quorn foods Inc., Amy’s kitchen, Archer Daniel’s
Midland, Claudron Foods, Morning Star Farms, Sweet Earth Foods, Impossible
Foods, Maple Leaf food, Beyond Burgers. These players consistently aim to focus
on product development, new product launch and enhance their existing
portfolios to expand their customer base and strengthen their market position
through partnerships and collaborations which further offers them growth
opportunities for geographic expansion.
Plant-Based Food Market
Market Insights, by Product
Plant-Based Dairy Alternatives
Plant-Based Sports Nutrition
Plant-Based Meat Substitutes
Market Insights, by Application
Supplements & Nutritional Powder
Beverages
Bakery and snacks
Breakfast cereals
Infant nutrition
Others
Market Insights, by Source
Soy protein
Pea Protein
Wheat Protein
Others
Market Insights, by Region
North America Plant-based food market
United States
Canada
Mexico
Rest of North America
Europe Plant-based food market
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific Plant-based food market
China
Australia
India
Singapore
Rest of Asia-Pacific
Rest of the World
Top Companies Profiled
Sweet Earth Foods
Quorn foods Inc.
Amy’s kitchen
Archer Daniel’s Midland
Claudron Foods
Morning Star Farms
Beyond Meat Company
Impossible Food, Ltd.
Maple Leaf Food
Tofurky
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The Plant-Based Food market can be customized for
different regions globally and at the country level as well. Besides this, UMI
understands that you may have your own business need, hence we also provide
fully customized solutions to clients.
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